[Bush's] Tax cuts mirror era-Depression tactics (quotes from Will Rogers)

[w4rma]

On Jan. 10, 1926, Will Rogers wrote:
"Now, when I tell you that if I was running the government, there would be no lowering of taxes, you know now a comedian is crazy .Š We owe more money than any nation in the world, and we ARE LOWERING TAXES. … All government statistics say that 70 percent of every dollar paid in the way of taxes goes to just keeping up our interest and a little dab of amortization of our national debts. In other words, if we didn't owe anything, our taxes would only be less than one-third what they are today."

Old Will Rogers was a pretty savvy dude. President Bush (or one of his aides who has a college education) should read his stuff. Do you know what happened in 1929?

On Feb. 1, 1933, Rogers wrote the following:
"The Reconstruction loaned the railroads money, medium and small banks money, and all they all did with it was pay off what they owed to New York banks. So the money went uphill instead of down. You can drop a bag of gold in Death Valley which is below sea level, and before Saturday it will be home to papa J.P."

So congratulations to the Bush administration on the $330 billion tax cut. Bush just skipped the part of dropping the gold in Death Valley and handed the money right over to the rich. I think they'll do just like they did in 1933 - pay off debts to other rich people and put the rest in the bank.

It took a Democrat to get us out of the hole dug by Republicans back then. I hope there will be another FDR to fix Bush's messes.
…
http://www.missoulian.com/articles/2003/06/05/letters/letters3.txt